NEW YORK (Reuters) - Bets on U.S. and Japanese stocks helped Daniel Loeb's hedge fund, Third Point, gain 3.3 percent during the second quarter, even as equity and bond markets suffered rapid sell offs in June, the manager told his investors on Monday. Full story

Third Point's Dan Loeb has upped his stake in Sony. Is the stock now a buy? Richard Ross, Auerbach, says the stock makes a compelling buy, and Steve Cortes, Veracruz, thinks there are problems for Sony.

A man playing the role of the character Kratos of the Sony game, God of War, walks the exhibit floor at E3, the Electronic Entertainment Expo, in Los Angeles, California, June 12, 2013. REUTERS/David McNew (UNITED STATES - Tags: SCIENCE TECHNOLOGY BUSINESS)

A man plays the role of the character Kratos of the Sony game, God of War, on the exhibit floor at E3, the Electronic Entertainment Expo, in Los Angeles, California, June 12, 2013. REUTERS/David McNew (UNITED STATES - Tags: SCIENCE TECHNOLOGY BUSINESS)

Sony Computer Entertainment president and CEO Andrew House introduces the new PlayStation 4 at the Sony PlayStation E3 media briefing in Los Angeles, Monday, June 10, 2013. Sony is giving gamers their first look at the PlayStation 4 and it's a rectangular black box, just like all the previous PlaySt